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In the 2016 Census of Population conducted by Statistics Canada, the Village of Hay Lakes recorded a population of 495 living in 191 of its 203 total private dwellings, a 7001165000000000000♠16.5% change from its 2011 population of 425. With a land area of 0.59 km2 (0.23 sq mi), it had a population density of 838.983839.0/km2 (2,172.9562,173.0/sq mi) in 2016.[3]

In the 2011 Census, the Village of Hay Lakes had a population of 425 living in 170 of its 187 total dwellings, a 17.4% change from its 2006 population of 362. With a land area of 0.58 km2 (0.22 sq mi), it had a population density of 732.759732.8/km2 (1,897.8361,897.8/sq mi) in 2011.[5]

The population of the Village of Hay Lakes according to its 2008 municipal census is 429.[6]